Kate grew up on a grain farm outside of Lloydminster, Saskatchewan. The farm consisted of a seed cleaning plant and lentil/pea splitting facility, with grain from local producers being exported overseas. She especially enjoys being back on the farm at harvest, with fond memories of spending time with her dad in the combine and having family picnics in the field. Kate grew up talking to producers on the phone, worked alongside her father with the export business and is excited to have the opportunity to continue working with producers at Agfinity.
Kate currently lives in Sherwood Park, Alberta with aspirations to one day live on an acreage. When she isn’t working at Agfinity, she enjoys spending time with her son, gardening, woodworking, yoga and paddleboarding. During seeding and harvest, she enjoys being back on the farm helping move equipment and bringing meals to the field.
Because Farming is Forever
Kate Prince
Market Report – Bryce Taylor
Good day and welcome to the July 12, 2022, Agfinity Market Report. In recent market news we have seen some rallying of grain prices in the last week due to 2 main factors gleaned from reports. Firstly, political and military tensions are on the rise in the Black Sea Region. Russia attempted a drone attack on Ukraine’s 2 main Terminals at the port city of Odesa. Second, the USDA is looking to forecast crop yields due to the extreme dry conditions we saw in May and the first half of June. However, the recent cool and wet pattern is helping to improve crop prospects with a great 10-day forecast keeping grain price gains in check.
We saw Canola rally significantly in the last week with gains upwards of $70 per metric ton with current prices of $800/MT or $18.20 /BU Delivered August available in Central Alberta and $18.00/BU available in central Sask. This seems to be a result of the USDA lower anticipated soyabean crop production outlook due to the extreme dry weather conditions and the grain markets reacting accordingly.
Barley was steady as she goes for months but recently in the last week has rallied to $420/MT or higher in some cases delivered to Lethbridge July. August old crop prices have been available at around the same Level. For New Crop, buyers have mentioned prices as high as $380/MT trading last week but now have cooled off to around $360/MT DLVD Lethbridge Sept-Oct. The new crop prices are said to be weather related. We are still seeing producers shy away from contracting their new crop due to drier weather concerns.
Graded Wheat has been on a roller coaster ride over the last week as we saw prices of $11.50/BU delivered Central Alberta for #1 HRS available mid last week then slip down below $11.00/BU then back up yesterday to $11.20/BU in Central AB and $11.00/BU in Central SK. September Wheat Futures are down today after a bearish reaction to USDA WASDE monthly report released at 11 AM this morning.
Buyers are still showing interest in Feed Oats as Barley prices still make Oats appealing for feed rations. Producers are still fetching around $4.00/BU FOB farm in Central Alberta with prices from producers willing to sell at or above $300/MT Delivered Lethbridge. We have seen new crop bids for Sept-Oct at $4.50 Delivered central Alberta.
Sellers Tip: If you need to clear out your bins to make room for new crop now is the time to market for July/August movement. Please call us today on 1-888-969-5552 to talk pricing and movement strategy. We are always on the lookout for premiums or special programs available.